More Obamacare Bad News – Claims Costs Are Going To Spike!

As predicted, Obamacare is turning into a national nightmare. Every day brings more bad news. The latest is that the cost of claims is going to spike as the previously uninsured are added to the system. This will mean higher premiums for the young and healthy. I wonder how all of the young Obama voters are going to feel when they see the cost of their health insurance premiums go up, especially in this rotten Obama economy. Who knows, they might start to pine for the good old days when they paid $8 out of pocket for birth control.

Insurance companies will have to pay out an average of 32 percent more for medical claims on individual health policies under President Barack Obama’s overhaul, the nation’s leading group of financial risk analysts has estimated.
That’s likely to increase premiums for at least some Americans buying individual plans.

The report by the Society of Actuaries could turn into a big headache for the Obama administration at a time when many parts of the country remain skeptical about the Affordable Care Act.

While some states will see medical claims costs per person decline, the report concluded the overwhelming majority will see double-digit increases in their individual health insurance markets, where people purchase coverage directly from insurers.

The disparities are striking. By 2017, the estimated increase would be 62 percent for California, about 80 percent for Ohio, more than 20 percent for Florida and 67 percent for Maryland. Much of the reason for the higher claims costs is that sicker people are expected to join the pool, the report said.

The report did not make similar estimates for employer plans, the mainstay for workers and their families. That’s because the primary impact of Obama’s law is on people who don’t have coverage through their jobs. (Read More)

On the bright side, the report also says that prices could come down in states like New York, where I live. I can tell you with complete certainty that it hasn’t happened yet. But if what they say is true, doesn’t that mean that those of you living in more sensible red states will be subsidizing the blue states you’ve probably been trying to avoid? Then again, New York is doing everything possible to ensure that this state leads the pack when it comes to doctor shortages, so perhaps a lack of providers will drive the price down.

I have no healthcare because I have no job. And the “sequester” is cutting my unemployment by about 11%. Really? They had to cut unemployment for people who can’t find jobs due to Obama’s destroying the economy? If you stand still, you’ll get shoot, if you run you’ll get shoot. They’ll get you either way.

When 2016 rolls around and the 24-year-olds who were on their parents’ insurance in 2012 and who voted for Obamee are then the 28-year-olds facing the equivalent of a second monthly rent payment in insurance costs, I’m betting that the GOP will look might good to them.